Auto Loans in Covington (GA)

Pre-arranging your financing allows you to streamline the process of buying a car, and we’re here to help. The advantages of our platform are myriad:

  • Comprehensive Network of Lenders
  • Stress-Free Application
  • No Fees or Obligations
  • Zero Down Payment Needed
  • Any Credit Approved
  • Approval Status Tracked Online

Apply online, and your finance application will enter our placement platform. There we will find you a lender based on your location, income, credit profile, and other factors.

Poor Credit Car Dealerships in Covington

Less-than-perfect credit? Not a problem. We help consumers with credit problems find a loan – it’s what we do. Many larger lenders and dealers now have entire departments specializing in “special finance.” Such establishments are commonly called bad credit car dealerships, and we have a wide range of them in our network. Yes, your APR would be lower if you had a FICO score of 700 or higher, so it’s crucial for you to choose an inexpensive car or truck with affordable monthly payments. You’ll probably have your application placed with a bad credit dealership or auto lender. Lenders like these will report to the credit agencies. This is crucial to rebuilding your credit.

How Much Am I Eligible to Finance?

The amount you’ll be approved to borrow depends on your credit rating and earnings. Below, we’ve detailed how much consumers of different credit ratings can borrow, based on an income of $2,427 a month, the average for Covington residents. Please be aware that these are only estimates.

Credit Income Factor Sum
Good Credit 10 $24,270
Average Credit 9 $21,843
Slow Credit 8 $19,416
Poor Credit 7 $16,989
Terrible Credit 6 $14,562

Keep in mind, these are estimates. For an exact quote, please submit your application.

Covington Auto Loans, No Money Down?

Don’t have a down payment? No worries. Having said that, supplying a down payment affords you important advantages:

  • Reduces the length of the loan, meaning you pay less in interest.
  • Lessens monthly payment.
  • Safeguards against negative equity.

That being said, you no longer need a down payment to submit an application.

Auto Financing for Students in Covington

As a student or first time car buyer, you might have minimal history of credit. The good news is, a number of car dealers are more focused on your ability to pay. Quite simply: your income.

  • Income: $1500 per month is required. Full-time jobs are best.
  • Cosigner: if you don’t have adequate income, or you’d like a better interest rate, a cosigner could help.

Buy Here Pay Here Dealerships in Covington

Keep in mind that buy here pay here dealerships consider down payments obligatory. These dealerships work with people that wouldn’t be approved by a traditional lender due to bad credit. Of course, the annual percentage rates are higher than average, but there are fewer obstacles to credit acceptance. However, most in house financing car lots don’t help consumers improve their credit. Normally, you would be more satisfied applying online through us, so we can find you an auto loan in Covington that can help you rebuild your credit.

Covington-Specific Credit, Income Numbers

Listed below are average statistics for Covington residents.

  • Average Income: $29,126 Annually
  • Average Car Payment: $267 (11% of Income)
  • Ideal Car Payment: $194 to $243 (8%-10% of Income)

Covington Population by Credit Score

If you’ve got below-average credit, you’re not the only one. This table depicts how many people in Covington are in each credit tier.

Credit Score % of Populace Consumers
300-499 2% 1036
500-549 5% 2589
550-599 8% 4143
600-649 12% 6214
650-699 15% 7768
700-749 18% 9321
750-799 27% 13982
800-850 13% 6732

Fortunately, we can help nearly any applicant who makes $1500 plus on a monthly basis, regardless of what their credit score is.